Buying agent Robert Bailey says: "The hoteliers are now selling their backpacker hostels to rich bankers who are, of course, converting them back into luxury homes. The hoteliers have been very canny, selling at the peak of the market - it will be interesting to see how developers who buy them fare.

The Telegraph revisits the Bayswater revival and finds "London's worst-kept secret". With the Lancasters due for completion this year, a glut of press coverage ever since Tony Blair's purchase(s), and the market doing what the market's doing, is there any value left in W2?

The Lancasters - some prices revealed (January 17, 2008]
Hookahs, hookers and Tony Blair get lucky... it's Bayswater time [November 19, 2007]

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